The rupee rebounded from its all-time low to close 4 paise higher at 88.72 (provisional) against the US dollar on Friday, tracking a weak greenback against major currencies overseas and a drop in global crude oil prices.

Unabated foreign capital outflows and risk-off sentiment in the domestic equity market prevented a sharp rise in the local unit, while hopes of a breakthrough in the India-US trade talks supported the domestic currency, according to forex traders.

At the interbank foreign exchange, the rupee opened at 88.72 and traded in a narrow range of 88.67-88.73 before settling at 88.72 (provisional), 4 paise higher than its previous close.

The rupee had slipped 1 paisa to close at a fresh lifetime low of 88.76 against the American currency on Thursday.

"The Reserve Bank of India

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